The following tables summarize the amortized cost and fair value of securities available-for-sale at December 31, 2025 and 2024 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss).



(Dollars in thousands)			Gross		Gross
	Amortized		unrealized		unrealized		Fair
December 31, 2025	cost		gains		losses		value
U.S. Treasury	$	35,880	$	—	$	(2,617)	$	33,263
Municipal		154,301		—		(16,462)		137,839
Corporate		15,536		—		(861)		14,675
Agency MBS & CMO		135,308		136		(5,584)		129,860
Non-agency MBS & CMO		112,860		477		(1,669)		111,668
Asset-backed		27,519		78		(316)		27,281
Total	$	481,404	$	691	$	(27,509)	$	454,586



(Dollars in thousands)			Gross		Gross
	Amortized		unrealized		unrealized		Fair
December 31, 2024	cost		gains		losses		value
U.S. Treasury	$	36,192	$	—	$	(4,395)	$	31,797
Municipal		156,528		37		(22,973)		133,592
Corporate		26,356		1		(2,133)		24,224
Agency MBS & CMO		149,003		15		(10,276)		138,742
Non-agency MBS & CMO		154,554		45		(5,429)		149,170
Asset-backed		31,420		163		(504)		31,079
Total	$	554,053	$	261	$	(45,710)	$	508,604

At December 31, 2025 and 2024, the fair value of investment securities pledged to secure public deposits, trust deposits, FHLB borrowing commitments and Federal Reserve Bank discount window availability totaled $353.5 million and $207.2 million, respectively. The Bank has no investment in a single issuer that exceeds 10% of shareholders equity except U.S. Treasuries.

The amortized cost and estimated fair value of debt securities at December 31, 2025, by contractual maturity are shown below. Actual maturities may differ from contractual maturities because of prepayment or call options embedded in the securities. Mortgage-backed and asset-backed securities without defined maturity dates are reported on a separate line.



(Dollars in thousands)	Amortized ‎cost		Fair ‎value
Due in one year or less	$	—	$	—
Due after one year through five years		54,230		51,347
Due after five years through ten years		89,682		79,543
Due after ten years		61,805		54,887
		205,717		185,777
MBS, CMO & ABS		275,687		268,809
Total	$	481,404	$	454,586

The composition of the net realized securities (losses) gains for the years ended December 31 is as follows:


(Dollars in thousands)	2025		2024
Proceeds	$	—	$	42,413

Gross gains realized		—		—
Gross losses realized		—		(4,267)
Net (losses)/gains realized	$	—	$	(4,267)

Tax benefit on net losses realized	$	—	$	896

The following table reflects the unrealized losses in the investment portfolio, aggregated by investment category, length of time that individual securities have been in a continuous unrealized loss position and the number of securities in each category as of December 31, 2025 and 2024. Securities in an unrealized loss position are evaluated at least quarterly for impairment. For this evaluation, the Bank considers: (1) the extent to which the fair value is less than amortized cost; (2) adverse conditions specifically related to the security, industry or geographic area; (3) the payment structure of the debt security and the likelihood of the issuer being able to make payments that increase in the future; (4) failure of the issuer of the security to make scheduled interest or principal payments; and (5) any changes to the rating of the security by a rating agency. In addition, the Bank considers whether it intends to sell these securities or whether it will be forced to sell these securities before the earlier of amortized cost recovery or maturity. The Bank does not have the intent to sell and does not believe it will more likely than not be required to sell any of these securities prior to a recovery of their fair value to amortized cost. The debt securities in a loss position and subject to evaluation at December 31, 2025 and 2024, were determined not to be attributable to credit related factors; therefore, the Bank does not have an allowance for credit loss for these investments.



	December 31, 2025
	Less than 12 months					12 months or more					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(Dollars in thousands)	Value		Losses		Count	Value		Losses		Count	Value		Losses		Count

U.S. Treasury	$	—	$	—	—	$	33,263	$	(2,617)	13	$	33,263	$	(2,617)	13
Municipal		1,683		(192)	4		136,156		(16,270)	162		137,839		(16,462)	166
Corporate		986		(6)	1		13,389		(855)	26		14,375		(861)	27
Agency MBS & CMO		776		(2)	10		118,183		(5,582)	170		118,959		(5,584)	180
Non-agency MBS & CMO		1,870		(3)	3		74,365		(1,666)	40		76,235		(1,669)	43
Asset-backed		2,768		(18)	5		15,538		(298)	32		18,306		(316)	37
Total unrealized losses	$	8,083	$	(221)	23	$	390,894	$	(27,288)	443	$	398,977	$	(27,509)	466



	December 31, 2024
	Less than 12 months					12 months or more					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(Dollars in thousands)	Value		Losses		Count	Value		Losses		Count	Value		Losses		Count

U.S. Treasury	$	—	$	—	—	$	31,797	$	(4,395)	13	$	31,797	$	(4,395)	13
Municipal		—		—	—		132,550		(22,973)	164		132,550		(22,973)	164
Corporate		—		—	—		23,237		(2,133)	50		23,237		(2,133)	50
Agency MBS & CMO		54,388		(2,250)	15		82,110		(8,026)	183		136,498		(10,276)	198
Non-agency MBS & CMO		79,422		(2,974)	26		53,615		(2,455)	50		133,037		(5,429)	76
Asset-backed		733		(1)	3		19,061		(503)	34		19,794		(504)	37
Total unrealized losses	$	134,543	$	(5,225)	44	$	342,370	$	(40,485)	494	$	476,913	$	(45,710)	538